`Leech and Garner gold mill consulting`

$10M of gold in a single small pot during a 1980 cast that turned out to be set up just for Tom's benefit. Three-day-vs-four-day throughput is the difference between substantial profit and loss because of the interest carry on the gold inventory. Findings (earring posts, watchband clasps) sold to jewelry suppliers including Schwank. Consulting relationship ran into early 1990s, ended when a Canadian gold-foundry acquisition (forced on Leach and Garner by a supplier loan default) lost $10M to internal theft.

One time I was helping them with a casting problem. He said, come down, we're having problems, we're going to make a cast. This was around 1980. I go down there and find out the cast was just for me. And there was $10 million in the pot. Just a little pot. Ten million dollars in there. Everything in processing of gold is the time value of money — the interest charges on the gold. If you can get it through that plant in three days, from bullion to shipped product, you make a lot more money than if you do it in four days. They had everything: start with the bullion, alloy it, cast it, roll it, shape it, form it, make what they call findings — the little earring posts and clasps for watchbands. They made all those little components and sold them to the jewelry people — Schwank and other jewelry suppliers. The mill providing all the raw materials was Leach and Garner.